Links 23 April 2013

Global Macro/Markets:

• Great Recession and Not-So-Great Recovery – Financial Times
• Years of weak growth sow doubt in economic rescue plans – Reuters
• Deflation is the real, imminent threat & explains gold crash – Reuters
• Andy Xie: After the Flash Crash – Caixin

North America:

• Data shift to lift US economy by 3% – Financial Times
• US GDP Will Be Revised Higher By $500 Billion Following Addition Of “Intangibles” To Economy – ZeroHedge
• Shiller on Housing: “Could be an auspicious time to buy” – Calculated Risk
• City Report Shows a Growing Number Are Near Poverty – New York Times
• Fed Watch: Monetary Policy and Financial Stability – Economist’s View
• The Next Hot Emerging Market? The US! – Wall Street Journal
• Spending vs saving in US households – FT Alphaville
• Wall Street betting billions on single-family homes in distressed markets – Washington Post

Europe:

• Who funds growth in Europe?.. – True Economics
• Who is in charge of the British economy? – Financial Times
• The Gloom Around Greece Is Dissipating – New York Times
• Focus on commodity prices, not on the sideshow of UK GDP figures – The Telegraph
• UK households feel even worse off than last month, survey – The Guardian
• Gross attacks UK and eurozone austerity – Financial Times
• Osborne’s daft ‘Help to Buy’ scheme is unravelling- The Telegraph
• Why austerity in Europe will continue – Credit Writedowns

Asia:

• Iron ore eyes 2013 low as Chinese buyers wary about steel – Reuters
• China’s disappointing new growth figures are not the end of the world – The Economist
• On statistics and why China‘s latest GDP figure may not be quite what it seems – The Economist
• China’s post-modern macro data (or, when Q1 is not Q1) – FT Alphaville
• Japan’s energy costs spiral higher – Financial Times
• Former NDRC head says China’s overcapacity problem is especially serious in steel, cement, aluminum, glass & coke – China English News

Local:

• Stop the gravy trains of highly paid consultants – Core Economics
• Why Australians are getting a raw deal on energy prices – The Conversation
• Labor sounds budget alarm – The Australian
• Super on record post-GFC run – The Australian
• Too many on middle class welfare – The Australian
• Australia: the costs are spiralling – The Age
• Australia: 23 million and counting – The Age
• The economic party is over – The Age

Other:

• Perils of placing faith in a thin theory – Financial Times
• Banks pull back from risky regions – Financial Times
• World Bank Mulls Global Infrastructure Facility – Wall Street Journal
• The Jobless Trap – New York Times
• Economists, an excel error, and the misguided push for austerity – The Conversation